Video: unlocking understanding in Blockchain

But ask someone to explain Blockchain and most people are confused saying it just the once. But that’s no surprise. It’s new and mysterious.

The thing about Blockchain is that it’s not part of everyone’s lives yet, and no one is walking around with one in their bag to show others. It’s not tangible.

Much like when the internet was emerging from a mere idea, promising to change everything beyond our comprehension, Blockchain too represents the dawn of a new kind of transformational technology.

It could not only change the way we communicate, but everything. It sounds like a bold statement, yet it really has the potential; in business, social interactions, transactions and even the daily lives of people.

“What the internet did for communications, Blockchain will do for trusted transactions.” Ginni Rometty.

Take the arrival of the internet – a momentous occasion. Now that we’ve all got it, today’s advancements are mainly about access and speed. Blockchain is the next big thing. But what does it really mean for the world?

That’s the question so many find it hard to answer right now. Defining Blockchain is like trying to explain what the internet intended – hoped – to bring.

We don’t all get it, some aren’t interested, some even doubt it. That’s standard, in the grand scheme of things. But it’s already here. It’s already being used.

When you think about it, it’s really a unique time for us all to experience. A time when we struggle to understand a world with something so new when, one day, we’ll almost certainly struggle to understand how we ever survived without it. Just like the internet.

So, let’s start understanding it, at least from the viewpoint of other people. In this video from Wired, a Blockchain expert sets out to successfully explain Blockchain to five different people; a child, a teen, a college student, a grad student and an expert.

It may not be obvious, but the video does make an excellent point about how we position a concept to different people. No one can argue that talking to clients about what you can do for them, and how, is a vital factor leading to new business, but it’s especially important when you’re starting conversations about new technology.

Of course, no one’s suggesting you should explain it to clients like they’re children, far from it. Rather, understand what important to them and how such a technology can be leveraged in their favour.

With so many new and exciting developments in Blockchain, you have the power to transform virtually every industry you can think of. There’s never been a better time to start using it to your advantage.